Australian New South Wales police force announced Sunday that it has seized three cryptocurrency ATMs as part of an ongoing investigation into drugs and money laundering.
The NSW Police, along with the US Department of Homeland Security and the Australian Criminal Intelligence Commission (ACIC), managed to seize three cryptocurrency ATMs along with five kilograms of drugs and $4.7 million in cash from three suspects.
The trio, aged 34, 39, and 45, are being charged with trading illegal drugs and money laundering using crypto assets. It has been revealed that crypto ATMs were presumably being used to transfer criminal proceeds. The investigation was part of an inter-agency operation called “Strike Force Mactier.”
Australian authorities have been looking into cryptocurrency regulations for a long time. In the latest development, the Australian Treasury has released a consultation paper that proposes a new regulatory and licensing regime for ‘crypto-asset secondary service providers’ (CASSPrs).